Valaris Limited (NYSE:VAL) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Valaris Limited (NYSE:VAL - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 581,106 shares of the company's stock after acquiring an additional 99,297 shares during the period. Bank of New York Mellon Corp owned 0.82% of Valaris worth $25,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VAL. Waverton Investment Management Ltd lifted its position in shares of Valaris by 20.4% in the third quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company's stock worth $37,412,000 after buying an additional 113,509 shares in the last quarter. State Street Corp increased its stake in Valaris by 4.8% in the 3rd quarter. State Street Corp now owns 2,446,006 shares of the company's stock worth $136,365,000 after acquiring an additional 112,216 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Valaris during the 3rd quarter worth approximately $3,940,000. Geode Capital Management LLC boosted its position in shares of Valaris by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,519,644 shares of the company's stock valued at $84,736,000 after acquiring an additional 66,229 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Valaris in the third quarter valued at $3,285,000. 96.74% of the stock is currently owned by institutional investors.

Valaris Trading Down 1.7 %

Shares of NYSE:VAL traded down $0.62 during trading on Thursday, reaching $36.30. 995,685 shares of the company were exchanged, compared to its average volume of 1,295,865. The business's fifty day simple moving average is $43.96 and its 200-day simple moving average is $48.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. Valaris Limited has a 12-month low of $31.15 and a 12-month high of $84.20. The firm has a market capitalization of $2.58 billion, a PE ratio of 7.06 and a beta of 1.16.

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Valaris (NYSE:VAL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The business had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. On average, research analysts anticipate that Valaris Limited will post 3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on VAL. Evercore ISI lowered shares of Valaris from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. Citigroup increased their price target on shares of Valaris from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. StockNews.com raised Valaris to a "sell" rating in a research note on Thursday, February 20th. Barclays lowered their price objective on Valaris from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 25th. Finally, Susquehanna cut their target price on Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.00.

About Valaris

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.